Yields up as Sovereign Bonds decline

MSE Daily Trading Report, May 17, 2018

The Sovereign debt market was once again in the red, as all eight active issues headed south. Nine trades worth a total of €272,409 were registered during the session.On the other hand, the corporate debt market experienced contrasting fortunes as five of the 14 active issues posted gains while another five declined. The 6% international hotel Investments plc € 2024 topped the list of gainers, as it climbed 1.62%, to close at €110. Contrarily, the 3.5% Simonds Farsons Cisk plc Unsecured € 2027 shed 0.89% off its price, to close at €104.81.

Elsewhere, the MSE Equity Total Return Index bounced back to register an increase of 0.212% and close at 8,511.089 points. A total of 54 trades worth €272,556 were executed. During the session 13 equities were traded of which; seven gained ground and three declined.Trident Estates plc, Simonds Farsons Cisk plc and Mapfre Middlesea plc were the only active issues to close unchanged.

The two major banks traded in opposite directions. Bank of Valletta plc climbed another 0.29%,to close at €1.75, while its peer HSBC Bank Malta plc settled 0.57% lower at €1.74.

GO plc was up by 0.58%,to finish the session at €3.48.The equity featured in three separate trades in which a total of 5,782 shares exchanged hands. Malta International Airport plc was also in the black, as a single transaction of a mere 200 shares, pushed the price up by 1.22%, to close at €4.96.

Property companies, MIDI plc and Malita Investments plc, posted similar gains but very different turnover levels. The former was the day’s most liquid equity, as 10 transactions worth a total of €80,812, yielded a 2.15% increase in price, to close at €0.38, while the latter appreciated by 2.38%, to close at €0.86. In this case, the equity traded on thin volume.

Following the announcement made during the day that the company is entering into discussions with SmartCity (Dubai) FZ-LLC, a wholly owned subsidiary of Dubai Holding LLC for the possible acquisition of Dubai’s Holding’s majority shareholding in SmartCity, Malta, Malta Properties Company plc was the session’s top performer. A gain of 8.51% was registered, as the closing price read €0.51. The equity traded on 17 different occasions for a total turnover of €43,437.

At the negative end of the spectrum, International Hotel Investments plc drifted lower,to end the session at €0.625 – a decline of 0.79% from Wednesday’s closing price.  This came as a result of a single trade of 50,000 nominal shares.

Closing in the red was RS2 Software plc. This equity continued its downward trend as it closed today’s session 1.67% lower at €1.18.This fall can be partially explained by the fact that the equity turned ex-dividend today.

Global Capital plc was the day’s second best performer as its shares surged by 6.25%, to close at €0.34. A single trade of 10,000 shares was registered.


Equity Trades

 

Symbol Code

Volume Traded

Value Traded

Trades

Closing Price

% Change

BOV

9,750

17,001.53

3

1.750

0.29%

HSB

24,069

41,519.07

7

1.740

-0.57%

MMS

3,800

7,752.00

3

2.040

0.00%

SFC

2,545

17,051.50

2

6.700

0.00%

GO

5,782

20,021.36

3

3.480

0.58%

IHI

50,000

31,250.00

1

0.625

-0.79%

GCL

10,000

3,400.00

1

0.340

6.25%

MIA

200

992.00

1

4.960

1.22%

RS2

1,573

1,856.14

2

1.180

-1.67%

MDI

214,300

80,812.00

10

0.380

2.15%

MLT

5,900

5,074.00

2

0.860

2.38%

MPC

87,445

43,436.75

17

0.510

8.51%

TRI

1,552

2,390.08

2

1.540

0.00%



Corporate Bond Trades

 

 

Closing Price

% Change

3.5% Simonds Farsons Cisk plc Unsecured € 2027

104.810

-0.89%

4.8% Bank of Valletta Plc Sub € 2020

102.760

0.00%

5% GlobalCapital plc Unsecured € 2021

99.750

0.02%

5% Mediterranean Investments Holding plc Unsecured € 2022

102.100

-0.39%

6% AX Investments Plc € 2024

112.500

0.00%

4.4% Von der Heyden Group Finance plc Unsecured € 2024

101.000

0.00%

6% international hotel Investments plc € 2024

110.000

1.62%

5.3% Mariner Finance plc Unsecured € 2024

110.000

1.32%

4.35% Hudson Malta plc Unsecured € 2026

103.000

-0.87%

4.8% Mediterranean Maritime Hub Finance plc Unsecured € 2026

104.500

-0.19%

4.35% SD Finance plc Unsecured € 2027

104.990

0.04%

3.75% Tumas Investments plc Unsecured € 2027

104.010

0.01%

4.5% Grand Harbour Marina plc Unsecured € 2027

104.800

0.00%

4% Stivala Group Finance plc Secured € 2027

104.950

-0.03%



Government Stock Trades

 

 

Closing Price

% Change

5% MGS 2021(I)

115.560

-0.09%

4.8% MGS 2028 (I)

133.040

-0.34%

5.2% MGS 2031 (I)

142.510

-0.36%

4.3% MGS 2033 (I)

132.420

-0.63%

4.1% MGS 2034 (I)

131.230

-0.20%

2.2% MGS 2035 (I)

104.360

-0.74%

2.5% MGS 2036 (I)

108.620

-0.51%

2.1% MGS 2039 (I)

101.370

-0.62%



This article, which was compiled by Jesmond Mizzi Financial Advisors Limited, does not intend to give investment advice and the contents therein should not be construed as such. Jesmond Mizzi Financial Advisors Limited is licensed to conduct investment services by the MFSA and is a Member Firm of the Malta Stock Exchange. The directors or related parties, including the company, and their clients are likely to have an interest in securities mentioned in this article. For further information contact Jesmond Mizzi Financial Advisors Limited at 67, Level 3, South Street, Valletta, or on Tel: 21224410, or email. Jesmond Mizzi Financial Advisors Ltd is the sponsoring broker for the Mediterranean Bank 5% Subordinated Unsecured Bonds 2027 issue, additionally the company is also participating as one of the authorised financial intermediaries and is a member firm of the Malta Stock Exchange, Garrison Chapel, Castile Place, Valletta VLT1063, Malta. Jesmond Mizzi Financial Advisors Limited or a connected company, their clients, officers and employees may have a position or engage in transactions in any of the investments mentioned.  

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